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The US economy is showing a divided state, with financial markets booming while the real economy is declining. The manufacturing PMI continues to contract, yet the stock market is rising due to concentrated profits in technology and financial companies, resulting in balance sheet inflation. Monetary policy struggles to benefit the real economy, and fiscal policy faces difficulties. The market structure leads to low capital efficiency, widening the gap between rich and poor and increasing social discontent. Cryptocurrency is seen as a relief valve, offering open financial opportunities. The economic cycle oscillates between policy adjustments and market reactions, lacking substantial recovery. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
Due to the reassessment of Federal Reserve rate cut expectations and the fading rebound of the U.S. stock market, the crypto market continues to experience liquidations, with significant ETF capital outflows and options traders increasing bets on volatility. Institutions warn that technical support for bitcoin above $90,000 is weak.
As long as the system continues to recycle debt into asset bubbles, we will not see a true recovery—only a slow stagnation masked by rising nominal figures.
- 11:56Data: Bitcoin dropped from $107,000 to $85,000 in just 11 days, with a long/short account ratio of 2.67:1 for Bitcoin on a certain exchange in 24 hours.According to ChainCatcher, on-chain analyst Ai姨 has monitored that bitcoin dropped from $107,000 to $85,000 in just 11 days, with the market continuing to decline. In the past 24 hours, the total amount of liquidations in the market reached $1.87 billion, with longs accounting for 87% of that; over the past week, the cumulative liquidation scale was between $5 billion and $7 billion, with BTC accounting for 40-60%. Due to last night's dip, both BTC and ETH OI have decreased to varying degrees in the past 24 hours, with BTC OI at $58.55 billion and ETH at $32.72 billion. Contrary to intuitive perception, longs still dominate the existing OI. Taking BTC data from a certain exchange as an example, the 24-hour long-short account ratio is 2.67:1, and the ratio among top traders is as high as 3.38:1; most exchanges maintain a positive funding rate, meaning longs continue to pay shorts.
- 10:53An independent miner successfully mined block 924569, capturing a reward of 3.146 BTC.According to ChainCatcher, citing mempool data, at 22:13:06 yesterday, an independent Bitcoin miner successfully mined block 924569, receiving a block reward of 3.146 BTC, worth approximately $264,500.
- 10:44Analyst: 20,000 bitcoins flowed into exchanges in the past week, worth nearly $2 billionAccording to a report by Jinse Finance, on-chain analyst Ali (@ali_charts) monitored that 20,000 bitcoins, worth nearly $2 billion, flowed into exchanges over the past week.